LeapFrog Hops Into Holiday Season With 4% Boost in Q3 Sales
Educational entertainment company LeapFrop announced its quarterly earnings today, and despite a "tough retail climate," in the words of CEO John Barbour, the company still managed to boost its quarterly net sales by 4%.
In the company's latest earnings statement, LeapFrog's success was attributed to shipments of new multimedia learning platforms launched in the summer, including several different models of the company's LeapPad.
In addition, LeapFrog reduced its quarterly operating expenses and, as a result, boosted its income from operations by 16% compared with this time last year. The company's net income took a 36% drop to $26.3 million, but it would have been higher than that of Q3 2012 if not for a $16.5 million provision for income taxes.
Looking ahead, Barbour believes LeapFrog is heading into the "all-important holiday season" equipped with "the best product offering we have ever had." He continued: "Our LeapPad tablets have been featured on most of the top toy lists for the holidays, and our great learning products continue to be recognized with many consumer and independent expert awards."
The article LeapFrog Hops Into Holiday Season With 4% Boost in Q3 Sales originally appeared on Fool.com.Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool recommends and owns shares of LeapFrog Enterprises. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.